Shares of Tata Elxsi rise as Nifty gains

Shares of Tata Elxsi Ltd. gained 0.87 per cent to Rs 6245.15 in Monday's trade as of 11:22AM (IST). It hit a high of Rs 6320.0 and low of Rs 6235.0 during the session.

The stock quoted a 52-week high price of Rs 10760.4 and a low of Rs 5708.1. The return on equity for the stock stood at 34.33 per cent. About 3,893 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.02.

The scrip has been an underperformer, up 7.7 per cent in the past one year in comparison with a 7.9 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 5708.1 on January 09, while the 50-DMA was at Rs 6660.82. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 43.92 per cent stake in Tata Elxsi Ltd. as of 30-Sep-2022. Mutual funds and foreign institutional investors held 2.47 per cent and 15.17 per cent stake.